FourThought Financial Partners LLC Purchases 21,970 Shares of Enterprise Products Partners L.P. (NYSE:EPD)

FourThought Financial Partners LLC grew its stake in Enterprise Products Partners L.P. (NYSE:EPD) by 18.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 140,532 shares of the oil and gas producer’s stock after acquiring an additional 21,970 shares during the period. FourThought Financial Partners LLC’s holdings in Enterprise Products Partners were worth $4,407,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Rosenberg Matthew Hamilton raised its stake in shares of Enterprise Products Partners by 364.4% during the fourth quarter. Rosenberg Matthew Hamilton now owns 836 shares of the oil and gas producer’s stock worth $26,000 after buying an additional 656 shares during the last quarter. Assetmark Inc. raised its stake in shares of Enterprise Products Partners by 19,800.0% during the third quarter. Assetmark Inc. now owns 1,194 shares of the oil and gas producer’s stock worth $35,000 after buying an additional 1,188 shares during the last quarter. Sanctuary Wealth Management L.L.C. acquired a new position in Enterprise Products Partners during the third quarter valued at approximately $36,000. Bangor Savings Bank grew its holdings in Enterprise Products Partners by 558.3% during the fourth quarter. Bangor Savings Bank now owns 1,264 shares of the oil and gas producer’s stock valued at $40,000 after purchasing an additional 1,072 shares during the period. Finally, New Wave Wealth Advisors LLC acquired a new position in Enterprise Products Partners during the fourth quarter valued at approximately $40,000. 26.07% of the stock is owned by institutional investors.

Enterprise Products Partners Stock Up 0.9 %

Shares of NYSE:EPD opened at $33.65 on Tuesday. The business has a fifty day simple moving average of $32.67 and a 200 day simple moving average of $30.99. Enterprise Products Partners L.P. has a 12-month low of $27.26 and a 12-month high of $34.63. The firm has a market cap of $72.93 billion, a P/E ratio of 12.51, a P/E/G ratio of 1.37 and a beta of 1.09. The company has a quick ratio of 0.83, a current ratio of 1.07 and a debt-to-equity ratio of 1.05.

Enterprise Products Partners (NYSE:EPD) last announced its earnings results on Tuesday, February 4th. The oil and gas producer reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. Enterprise Products Partners had a net margin of 10.49% and a return on equity of 20.48%. The business had revenue of $14.20 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter last year, the firm earned $0.72 earnings per share. Enterprise Products Partners’s quarterly revenue was down 2.9% on a year-over-year basis. Analysts predict that Enterprise Products Partners L.P. will post 2.9 earnings per share for the current year.

Enterprise Products Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, January 31st were paid a $0.535 dividend. The ex-dividend date was Friday, January 31st. This is a positive change from Enterprise Products Partners’s previous quarterly dividend of $0.53. This represents a $2.14 annualized dividend and a yield of 6.36%. Enterprise Products Partners’s payout ratio is 79.55%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on EPD. Scotiabank assumed coverage on shares of Enterprise Products Partners in a research note on Friday, January 10th. They issued a “sector perform” rating and a $33.00 target price for the company. Citigroup reiterated a “buy” rating on shares of Enterprise Products Partners in a report on Tuesday, February 18th. Wells Fargo & Company downgraded shares of Enterprise Products Partners from an “overweight” rating to an “equal weight” rating and set a $35.00 target price on the stock. in a report on Wednesday, December 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 price target on shares of Enterprise Products Partners in a report on Wednesday, October 30th. Finally, Wolfe Research downgraded Enterprise Products Partners from an “outperform” rating to a “peer perform” rating in a report on Friday, January 10th. Four investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.70.

About Enterprise Products Partners

Enterprise Products Partners L.P. provides midstream energy services to producers and consumers of natural gas, natural gas liquids (NGLs), crude oil, petrochemicals, and refined products. It operates in four segments: NGL Pipelines & Services, Crude Oil Pipelines & Services, Natural Gas Pipelines & Services, and Petrochemical & Refined Products Services.